Basic Information

A First Acquisition for the Montreal-Based Company, Karelab

304 Days ago

MONTREAL, QUEBEC--(Marketwired - Feb 9, 2016) -

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Marc-André Lanciault, CEO and President of Karelab, is proud to announce the company's first acquisition, another step in an extended period of phenomenal business growth that was recently recognized with a ranking in the prestigious PROFIT 500 list. Today, Karelab acquired Propulse, an innovative online platform for human resources management.

Propulse is the only solution providing bilingual and anonymous surveys designed to accurately and regularly measure employee satisfaction. Each week, the software sends employees a flash survey that can be completed in less than two minutes. The five-week Propulse Cycle surveys, one by one, the fundamentals of employee satisfaction: employee expectations, skills, recognition, work relationships and availability of materials.

The Propulse platform also allows the addition of personalized questions to target a company's specific needs.

"Company executives value anonymity, because they understand that employees want to express themselves freely and without fear of reprisals. Propulse is positioned as the most secure online survey solution because it destroys all personal information that could identify an employee. Company executives are also attentive to how long it takes to complete a survey. Our solution gathers information over a period of weeks with surveys that employees can complete in just two minutes. This strategy ensures the integrity of data, reduces the more subjective answers often associated with a tiresome and longer annual survey, and covers all key elements for each company," explains Nicolas Tarragoni, Product Manager at Karelab.

Karelab has built its reputation by carving an ingenious niche at the intersection of several markets: employee performance, employee recognition and employee rewards. The company has built on this foundation by creating a unique product featuring gaming mechanisms and an enterprise social network. This Gamification Platform includes, most notably, modules for interaction and training, motivational campaigns, games and quizzes. It is currently being used by more than 100,000 employees in large corporations around the world.

"The addition of Propulse to our products will enable us to offer our existing clients a unique solution and help us reach out to small- and medium-sized companies, a market with exceptional potential. This acquisition is part of a strategic plan that seeks to make Karelab a leading world provider of innovative management solutions for employee performance, recognition and reward," asserts Lanciault, President of Karelab.

In the coming months, the company will accelerate growth in both Canada and the United States, as well as launch a new version of its platform that will be more accessible to small- and medium-sized companies.

The value of the transaction with Informatique Dominic Goulet was not disclosed.

Karelab has built its reputation by carving an ingenious niche at the intersection of several markets: employee performance, recognition and rewards. The company has built on this foundation by creating a unique product featuring gaming mechanisms and a social network for companies. This Gamification Platform includes, most notably, modules for interaction and training, motivational campaigns, games and quizzes. Karelab has published a white paper explaining how these gamification techniques can be applied in unexpected domains, such as sales, marketing and human resources. This document is the first in Quebec to show how gamification can be integrated into a business and why 50% of large-scale organizations chose to use it.

About Karelab

Founded in 2003, Karelab provides innovative tools and personalized services for measuring and boosting performance, engagement and recognition in the workplace. The Karelab Gamification Platform is a performance management program and collaborative social network that drives motivation and pleasure, and builds a sense of community.

After creating its own consulting firm which worked on large-scale projects, Dominic Goulet now focus all his attention developing SaaS products. Quebec City-based Momenteo has a clear objective: allow freelancers across the globe to live from their passion by simplifying accounting, invoicing, expense tracking, online payments and financial reports.